Quote on Market by by Mr. Vikram Kasat, Head - Advisory, PL Capital
Below the Quote on Market by by Mr. Vikram Kasat, Head - Advisory, PL Capital
Will the Rally End With a Rate Cut?
“It’s Fed week and US market is feeling good about the prospects of a rate cut.
Nasdaq is enjoying its best September in 15 years—so much for the month’s scary reputation
A quarter-point cut is all but built into prices now.
?If it doesn’t happen - I would say to put on your hard hat, get under your desk, and look out because stocks will be falling pretty hard - Unless there is a major spike in inflation over the next couple months, the market right now is essentially forcing the Fed to have to cut three times before the end of this year.
Nifty 25069.20
Nifty gave a negative daily close after eight consecutive positive daily closes.
On the way down, the important support and a trend reversal level will be the 40 HEMA at 24988 Bulls will have an upper hand as long as Nifty is trading above the 40HEMA.”
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